Loan Scenario: CA, $1,500,000, 686, 75% LTV, Purchase
Loan State: California
Loan County: Los Angeles
Loan Type: Purchase
Loan Amount: $1,500,000
Property Value: $2,000,000
LTV: 75%
FICO: 686
DTI: 11
Occupancy Type: Owner-Occupied
Property Type: Single Family Residence
Looking for a good 5/1 ARM product preferably with IO for this high net worth individual. Here's the catch: he's got millions in assets, but almost all of it is currently in his business account. He's 1/3 owner in the company. Most banks say biz funds are a 'no no.' Where can I go with this, get a decent rebate and still offer him something in the mid to upper 5% range? Possible?